Fairfield County average lease size sees year-over-year increase
Fairfield County average office lease size
- The average office lease size in Fairfield County in 2024 was 18.4k sf, up 11.7% year-over-year. The jump in average size can be attributed to an 8.6% year-over-year increase in the average size of new leases, which sits at 14.5k sf.
- Renewals, on the other hand, have seen a 1.2% year-over-year decrease and had an average size of 33.5k sf in 2024. Despite the decline from 2023, the average renewal size has increased substantially post-Covid and is up 168.8% from it’s 2019 value of 12.4k sf.
- The year-over-year increase in average new lease size and post-Covid surge in average renewal size is an indication of tenants’ confidence in the market and their eagerness to grow their footprint, which bodes well for 2025 leasing activity.
February 18, 2025
Get market intel
US-CT-FLDWCH Fairfield / Westchester